President Trump’s senior advisor and son-in-law Jared Kushner has sold his stake in WiredScore, a company that uses a rating system for technological capacity in commercial buildings, the company announced today. The purchasers include Kushner’s brother, Joshua Kushner.
An investment group led by Bessemer Venture Partners and Fifth Wall Ventures has acquired a majority share of the company and will fill Board and Board Observer seats, respectively. The investment group also included minority participation from SterlingVC, Joshua Kushner, and other angel investors.
WiredScore launched four years ago when Barendrecht and Jared Kushner founded the company in New York City. The company said the new investment “capitalizes WiredScore for continued rapid growth and completes Jared Kushner’s formal divestment of the company following his role as an advisor until he assumed a position in public office earlier this year.”
WiredScore was founded in 2013 in partnership with Mayor Bloomberg and the City of New York with the mission of promoting best-in-class internet connectivity in commercial buildings.
Landmark buildings including The Empire State Building, Chicago’s Willis Tower, and The Shard in London, along with development projects like Duo Tours in Paris and Hudson Yards in New York City have achieved Wired Certification.
“Buildings are no longer just a protection against elements: they are a nexus of connectivity. WiredScore is the industry standard, providing the most dynamic measure for that essential technological capacity,” said Brendan Wallace, CEO and co-founder of Fifth Wall Ventures in a press release. “We’re excited to partner with their team to build a future where technology is seamlessly and more powerfully integrated into physical spaces.”